2. To examine the working of market structures of monopoly, monopolistic competition and oligopoly.
Course Outcomes (COs):
Course |
Outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
|
Paper Code |
Paper Title |
|||
ECO 411 |
Intermediate Microeconomics-II |
CO47: Students will interpret the concepts of general equilibrium, welfare economics and market failure. CO48: Students will analyze the working of market structures of monopoly, monopolistic competition and oligopoly.
|
Approach in teaching: Interactive Lectures, Discussion, Case studies.
Learning activities for the students: Presentations, Assignments and Group discussions. |
Class activity, Assignments and Semester end examinations. |
Equilibrium and efficiency under pure exchange and production.
Aggregation of preferences; Social Welfare Functions; Welfare Maximization; Individualistic Social Welfare Functions
Monopoly; pricing with market power; price discrimination; peak-load pricing; two-part tariff; Monopolistic competition.
Oligopoly; game theory and competitive strategy.
Externalities; public goods and markets with asymmetric information.
Hal R. Varian, Intermediate Microeconomics, a Modern Approach, 8th edition, W.W. Norton and Company/Affiliated East-West Press (India), 2010.
Note- The workbook by Varian and Bergstrom may be used for problems.